Data / Bank failures / 1991 / First City Bank
First City Bank, New Orleans, LA: failed May 17, 1991
First City Bank in New Orleans, Louisiana, failed on May 17, 1991. First Bank and Trust of New Orleans, LA, took over its deposits. It held $56.1 million in assets and $56.5 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $10.4 million (18.6% of its assets). By assets it was the 162nd largest of 271 banks closed or assisted in 1991.
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The FDIC's record
- Closed
- May 17, 1991
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- First Bank and Trust, New Orleans, LA
- Total assets
- $56,068,000
- Total deposits
- $56,509,000
- Estimated cost to the FDIC
- $10,403,981 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- BIF
- FDIC certificate
- 22504
Other bank failures in Louisiana, 1989 to 1993
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Life FSB | Baton Rouge | January 29, 1993 | $16.8 million | $16.5 million | $2.2 million | Liberty B&T Co |
| Investors Bank and Trust Company | Gretna | November 13, 1992 | $51.6 million | $50.8 million | $4.8 million | Delta BANK&TRUST Co |
| Carrolton Home | New Orleans | March 13, 1992 | $35.9 million | $32.6 million | $2.2 million | Liberty B&TC |
| Progressive National Bank of Rayne | Rayne | March 12, 1992 | $11.4 million | $11.2 million | $1.7 million | ST Landry BANK&TRUST Co |
| Pelican Homestead Sa | Metairie | January 31, 1992 | $1.28 billion | $1.49 billion | $288.3 million | First Commerce Corp. |
| Bank of the South | Baton Rouge | October 30, 1991 | $31.8 million | $31.3 million | $3.6 million | The First National Bank in |
| Oaktree Federal Savings | New Orleans | October 13, 1991 | $2.21 billion | $2.26 billion | $2.35 billion | |
| Pontchartrain State Bank | Metairie | July 19, 1991 | $140 million | $142.1 million | $29.4 million | First National Bank of Comm |
Other failed banks First Bank and Trust took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| First Bank and Trust (assistance) | Harrisburg | IL | September 16, 1991 | $26.6 million | $26.2 million | $626,895 | First Bank and Trust |
All bank failures in 1991 · All bank failures in Louisiana · Every failed bank First Bank and Trust took over · The full failed bank list
Read from the FDIC's failures data (BankFind), last updated 2026-10-24. Assets and deposits are as of the last report before failure; the estimated cost is the FDIC's latest estimate of the loss to its insurance fund and changes as the receivership winds down. Free to reuse with credit to SpecStream under CC BY 4.0.